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Vodafone reports 10.3% hike in service revenues in India

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Vodafone reports 10.3% hike in service revenues in India

Vodafone reported group revenue of £10.2 billion for the quarter ended June 30, 2014, while group service revenue stood at £9.4 billion. On an organic basis, group service revenue decreased by 4.2 per cent, and excluding the impact of mobile termination rate (MTR) cuts, group service revenue fell by 2.9 per cent.

India service revenue increased 10.3 per cent, driven by continued customer growth, strong data usage and improved voice pricing. Mobile customers increased by 3.3 million during the quarter, giving a closing customer base of 169.9 million at June 30, 2014. Data usage grew 102 per cent during the quarter, primarily driven by mobile internet customer growth and a 46 per cent increase in usage per customer. At June 30, 2014, active data customers totalled 57 million, including 10 million 3G customers and 29 million smartphone users, representing 17 per cent penetration of the customer base.

M-Pesa continues to perform well, with national coverage through approximately 66,000 sales agents, 65 per cent of which were in rural areas, with 1.5 million registered customers at June 30, 2014, of which approximately 300,000 are active.

Vodafone aims to have 95 per cent 3G outdoor coverage in India in targeted urban areas over the next two years. The company has taken 3G coverage on this footprint to 89 per cent, with a further 2,305 sites added.

Vittorio Colao, Chief Executive, Vodafone commented, “The year has started in line with our expectations. Through our commercial actions and investments, our performance is beginning to stabilise quarter-on-quarter in several of our European markets, with customer appetite for 4G services clearly growing. We also see very strong growth in demand for data in India.”

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